Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Line of Credit Facility [Line Items]

Schedule of Line of Credit Facilities [Table Text Block]

The following table summarizes our shelf agreements borrowing information at December 31, 2018:



(in thousands)	Total Borrowing Capacity		Less Amount of Debt Issued			Less Unfunded Commitments			Remaining Borrowing Capacity
Shelf Agreement
Prudential Shelf Agreement	$	220,000	$	(70,000	)	$	(100,000	)	$	50,000
MetLife Shelf Agreement	150,000		—			—			150,000
NYL Shelf Agreement	150,000		(100,000		)	—			50,000
Total	$	520,000	$	(170,000	)	$	(100,000	)	$	250,000

Outstanding Long-Term Debt

Our outstanding long-term debt is shown below:



	As of December 31,
(in thousands)	2018			2017
FPU secured first mortgage bonds:
9.08% bond, due June 1, 2022	$	7,986		$	7,982
Uncollateralized Senior Notes:
5.50% note, due October 12, 2020	4,000			6,000
5.93% note, due October 31, 2023	15,000			18,000
5.68% note, due June 30, 2026	23,200			26,100
6.43% note, due May 2, 2028	7,000			7,000
3.73% note, due December 16, 2028	20,000			20,000
3.88% note, due May 15, 2029	50,000			50,000
3.25% note, due April 30, 2032	70,000			70,000
3.48% note, due May 31, 2038	50,000			—
3.58% note, due November 30, 2038	50,000			—
Term Note due January 21, 2020 ⁽¹⁾	30,000			—
Promissory notes	26			97
Capital lease obligations	1,310			2,070
Less: debt issuance costs	(567		)	(433		)
Total long-term debt	327,955			206,816
Less: current maturities	(11,935		)	(9,421		)
Total long-term debt, net of current maturities	$	316,020		$	197,395

⁽¹⁾In December of 2018 we issued a $30.0 million unsecured Term Note through PNC Bank N.A. The maturity date of the Term Note is January 21, 2020. The Term Note bears interest at a rate equal to the one month LIBOR rate plus 75 basis points. The interest rate at December 31, 2018 was 3.23%

Schedule of Maturities of Long-term Debt [Table Text Block]

Annual maturities and principal repayments of long-term debt, excluding the capital lease obligation, are as follows:



Year	2019		2020		2021		2022		2023		Thereafter		Total
(in thousands)
Payments	$	10,626	$	45,600	$	13,600	$	25,100	$	20,600	$	211,700	$	327,226